November 09, 2015
PR No. 263/2015
Press release in the matter of Yatra Art Fund Private Limited
Shri Prashant Saran, Whole Time Member, SEBI, has passed an order on November 06, 2015 in the matter of
Yatra Art Fund Private Limited under Sections 11 and 11B of the Securities and Exchange Board of India Act, 1992
read with Regulation 65 of the Securities and Exchange Board of India (Collective Investment Schemes)
Regulations, 1999.
The Registered Office of the Company is situated at Yatra Art Fund, Currimjee Building, 1st Floor, 111, M G Road,
Fort, Mumbai - 400023. The order directed the company to abstain from collecting any money from the investors or
launch or carry out any Collective Investment Schemes; the company is restrained from accessing the securities
market and are prohibited from buying, selling or otherwise dealing in securities market for a period of four (4) years;
to refund the entire monies collected by it under its scheme to all the investors along with an interest at the rate of
10% per annum (from the date of investment till the date of part refunds); to submit the complete and detailed
inventory of the assets owned by Yatra Art Fund.
The Company was engaged in fund mobilizing activity from public by floating/sponsoring/ launching unregistered /
unauthorized Collective Investment Scheme (CIS) as defined in section 11AA of the SEBI Act, 1992.
Mumbai
November 09, 2015 |